The Department of Savings and Mortgage Lending (SML) has announced guidance for the implementation of Mortgage Call Report Form Version 7 (MCR FV7), which will start with the first quarter of 2026. The new reporting requirements are set to enhance data quality, regulatory oversight, and consistency across state lines, in coordination with the NMLS Policy Committee and the American Association of Residential Mortgage Regulators (AARMR).
According to SML, “The first reporting quarter for MCR FV7 is Q1 2026, with the submission window opening on April 1, 2026, and reports due by May 15, 2026.”
While AARMR has suggested that state regulators offer a grace period for filings in the first quarter under the new system, SML stated it “will not be providing a blanket grace period.” However, enforcement actions for late filings will generally not be pursued unless there are other reasons. Forbearance may be considered during examinations on a case-by-case basis.
SML emphasized that licensees and registrants must make genuine efforts to submit accurate reports on time. “Placeholder” filings with incorrect information are not acceptable. If errors are found after submission, immediate amendments should be made.
To help industry participants prepare for these changes, the Conference of State Bank Supervisors (CSBS) released XML specifications at the end of October 2025 and will offer a testing option from January 2026. CSBS is also holding “Office Hours” through April 2026 to assist with implementation questions. Additional resources including field definitions and sample forms are available on both the NMLS State & Agency News page and NMLS Resource Center page.
For questions about filing Mortgage Call Reports, SML directs inquiries to their contact email.
The Department of Savings and Mortgage Lending operates under the oversight of the Finance Commission of Texas as an agency responsible for chartering, regulating, and supervising thrift institutions and mortgage-related entities within Texas (official website). The agency oversees more than $290 billion in assets held by state-chartered savings banks as well as over 42,000 residential mortgage loan originators and more than 4,600 mortgage-related businesses (official website). Established in 1961 (official website), SML regulates most residential mortgage lending activities statewide from its headquarters in Austin (official website). Its mission includes protecting depositors, creditors, and borrowers while upholding ethical standards in Texas’s thrift and mortgage sectors (official website).
